Stock Markets
Bit Origin partners with Aethir for GPU cloud solutions
NEW YORK – Bit Origin Ltd (NASDAQ: BTOG), a company specializing in cryptocurrency mining, has announced a strategic partnership with Aethir, a leading provider of enterprise-focused distributed GPU cloud services. The collaboration aims to enhance Bit Origin’s service offerings and promote growth for both entities.
Aethir has recently secured nearly USD 150 million in funding and is recognized for its decentralized GPU computing infrastructure, which supports various data-intensive applications including artificial intelligence (AI), gaming, and cloud gaming clients. Leveraging Nvidia (NASDAQ:) H100 GPUs, Aethir has established contracts with major gaming and telecom companies.
On June 12, 2024, Aethir initiated a token generation event for its $ATH token, reaching a fully diluted valuation of $2.6 billion by June 24, 2024. This valuation reflects the potential of Aethir’s growing decentralized GPU cloud infrastructure ecosystem to reshape the cloud computing landscape.
The partnership is also marked by strategic industry collaborations with TensorOpera, which focuses on optimizing and scaling AI model training, and Sophon, a decentralized computing services platform with over 3 million registered users. These collaborations are designed to strengthen Aethir’s capabilities in the AI and crypto sectors.
Bit Origin, serving as Aethir’s sales representative, plans to expand Aethir’s market reach and intends to acquire and deploy Aethir devices in Singapore and/or Malaysia. Jinghai Jiang, Chairman of the Board, CEO, and COO of Bit Origin Ltd, expressed enthusiasm for the partnership, noting the transformative nature of Aethir’s technology and the anticipated substantial growth and value for both companies.
The strategic agreement highlights Bit Origin’s commitment to embracing cutting-edge technologies and leading industry advancements. As Aethir continues to redefine global GPU computing, Bit Origin is set to play a significant role in facilitating access to these vital resources.
Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., operates in the United States and is actively deploying blockchain technologies alongside diversified expansion strategies. This announcement is based on a press release statement and includes forward-looking statements that involve risks and uncertainties. Investors are cautioned that actual results may differ materially from anticipated results.
In other recent news, Bit Origin Ltd has made significant strides in its operations. The company recently announced a strategic partnership with Aethir, an enterprise-focused GPU cloud provider. This agreement positions Bit Origin as a sales representative for Aethir’s GPU-as-a-service offerings. Bit Origin is also planning to acquire and deploy Aethir devices in either Singapore or Malaysia, with further details to be revealed as plans progress.
Another recent development involves Bit Origin’s exploration of Artificial Intelligence (AI) applications within its cryptocurrency mining operations. The integration of AI is expected to enhance the efficiency and profitability of its mining activities. This includes the potential for AI to optimize energy consumption, support predictive maintenance, and provide insights into market trends.
These recent developments illustrate Bit Origin’s commitment to innovation in technology and blockchain. As always, investors are advised to note that these announcements contain forward-looking statements subject to risks, uncertainties, and other factors that could affect the company’s future results or performance.
InvestingPro Insights
In light of Bit Origin Ltd’s strategic partnership with Aethir, recent data from InvestingPro provides a nuanced view of the company’s financial health and market performance. With a market capitalization of 32.29 million USD, Bit Origin is positioned as a smaller player in the cryptocurrency mining sector. Despite its modest size, the company has shown impressive revenue growth over the last twelve months as of Q2 2024, with an increase of 214.61%. This suggests that Bit Origin is expanding its revenue streams, which could be further bolstered by its new partnership.
However, an InvestingPro Tip indicates that Bit Origin is quickly burning through cash, which raises concerns about its long-term financial sustainability. Additionally, the company’s gross profit margin stands at -47.04%, highlighting challenges in maintaining profitability amidst its expansion efforts. This is further evidenced by a negative P/E Ratio of -0.56, suggesting that investors are cautious about the company’s earnings potential.
On a positive note, another InvestingPro Tip reveals that Bit Origin has a strong return over the last year, with a 157.27% price total return, reflecting investor optimism in certain aspects of the company’s operations or potential. Moreover, the recent strategic partnership and industry collaborations may serve to enhance Bit Origin’s market position and improve its financial outlook.
For those considering an investment in Bit Origin, InvestingPro offers additional insights and tips to help make informed decisions. Currently, there are 13 more InvestingPro Tips available, which can be accessed with the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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